Michael Hobbs's (michaelhobbs) Blog

Real Estate Appraiser - PahRoo Appraisal & Consultancy



For anyone who was ever a Chicago Cubs fan, watched the Cubbies on WGN, or even made one or many trips to the friendly confines, your chance to own a piece of history is coming around soon. Earlier, there was public notice that one of the Wrigleyville Rooftops was going into foreclosure and was s...
In September of this year, there were roughly 800,000 homes that had been repossessed and still in inventory. Of those 800,000, approximately a quarter million were inventory for the federal goverment due to government backed mortgages through Fannie Mae or Freddie Mac.  Said another way, 31% of ...
It seems that the change in season did not bring in a change in buyer's activity for condominiums in downtown Chicago.  Last week, I briefly chatted with Gail Lissner of Appraisal Research Counselors regarding Chicago activity and she noted that it wasn't any better than the prior quarter and act...
Right before the holidays, I attended a luncheon by CREC (Chicago REC) that featured Ron DeVries of Appraisal Research Counselors and I can surely say that what may be a bad situation for some is definitely turning out to be a good situation for others. Ron pointed out that suburban apartment ren...
Now that Thanksgiving has passed, the onslaught of holiday marketing and holiday decorations will adorn nearly every corner.  Yet, one other important holiday occurence is the outreach of many local, and some national, charitable organizations who serve those in our communities.  If it was not fo...
There are times when you can feel that something is awry, but you cannot always put your finger on it.  In this case, it is the higher than national average unemployment rate in Illinois, in general, and specifically in Cook County.  Cook County has experienced similar stubbornly high unemploymen...
Granted Thanksgiving is hardly over and people are being called to take action with Black Friday, Small Business Saturday and Cyber Monday, but what of the government and the shadow inventory?  Has tryptophan already set in?  It seems that although the United States government has hardly ever bee...
Well, there are many who take advantage of Black Friday....namely retail buyers in retail stores...but what about distressed properties...and non-retail real estate investors and buyers.... In just 3 days at just 3 auction sites, 18 properties were sold to real estate investors seeking foreclosur...
Indeed, today is the day after Thanksgiving and for many Americans, it seems that the concept of Black Friday is rooted in 'deals'.  If that is the case, then why swim upstream...why not go with the flow and help create more momentum.... What Sale Can YOU make happen today.... Personally, we are ...
Given the influx of emails and flyers and radio spots which all tout Black Friday specials....what if that same was to occur for the real estate market.... might a good slice of possibly stale inventory suddenly come alive and move off the proverbial shelf of the lenders or banks.... just a thoug...

Michael Hobbs

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